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Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1. Accounts receivable $ 44,960 Accounts payable
Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1.
| Accounts receivable | $ | 44,960 | |
| Accounts payable | 9,790 | ||
| Cash | 15,010 | ||
| Common stock | 43,500 | ||
| Land | 13,000 | ||
| Long-term notes payable | 23,150 | ||
| Merchandise inventory | 31,700 | ||
| Retained earnings | 28,230 | ||
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Present the answer in a classified balance sheet
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Fundamental Financial Accounting Concepts
Authors: Thomas Edmonds
7th Edition
73527122, 978-0073527123
